U.S. stocks soar as Fed cuts stimulus, citing jobs
World BusinessDec 19, 2013
The U.S. stock market had a swift and clear reaction to the Federal Reserve's decision to trim its stimulus efforts: That wasn't so bad after all.Stocks surged Wednesday, lifting the Dow Jones industrial average nearly 300 points to another record, after the Fed decided the economy was strong enough for it to begin a modest reduction of its bond purchases.“Investors should see this as a vote of confidence for the economy,” said Kristina Hooper, head of U.S. investment strategies for Allianz Glob